Fashion Brands uses Blockchain Technology

[348Judah]

The application of blockchain technology has gone widespread across several industries as many of them now make use of the advantage in cryptocurrency to increase the performance of thier businesses and enterprises using the technology in their services, the economy is doubtlesslly not in dark towards the advancement of the crypto adoption and its relevance areas of application.

Among those embracing this great opportunity is the "Fashion Industry", in collaboration with different brands are working closely to overcome areas of challenges in the industry with the application of blockchain technology.

Luxury giants LVMH, Prada, and Cartier joined forces to launch the Aura Blockchain Consortium, a non-profit platform to create a digital twin for their fashion items. The platform leverages blockchain technology, which has the features of transparency and immutability to ensure that consumers of the brands are buying original copies.
https://beincrypto.com/crypto-can-save-the-fashion-industry-despite/?utm_source=thecryptoapp

It is quite obvious that cryptocurrency is not only applicable to the use of digital currency for an exchange or store of value assets or for an investment but also the technology in blockchain has various applicable means it provides solutions into the economy, one of which they find secure to enlist all their brand products on the immutable distributed ledger while thousands of products and brands have join in this together.

[fiulpro]

First of all it's good that they do understand the fact that Blockchain is not bitcoins which also means that the technology does not have to go through the harsh outlines that the government defines for Bitcoins as a whole, what I do know is, Blockchain is being used around the world and there are more than 50 applications! It can help in keeping a good log in the library or it can essentially be used in any other MNCs as well.

Banking, healthcare, log keeping, all these places does need a little bit of help from the Blockchain so that they can be more secure, since it can be extended to cyber security as well !

The best part is they are creating a ' non- profit' organization as well ! Therefore it can be used for small business organizations and make things way more international.

[Hydrogen]

The platform leverages blockchain technology, which has the features of transparency and immutability to ensure that consumers of the brands are buying original copies.

So its being used to protect the data integrity of luxury item production and distribution.

To cut down on counterfeit copycats and imitation wares.

The medial marijuana industry did something similar in years past. Where the production and distribution of THC products were recorded in a blockchain ledger to verify their legitimacy and integrity.

These apps are on private blockchains to deter unwanted 51% attacks.

It would appear blockchain technology is well suited for these types of applications. As matson, walmart and others have used them for years without apparent issue.

[hugeblack]

I think that these brands are trying to look "elegant" or "modern" using terms unknown to society, but they are very popular like the blockchain.
The use of blockchain in non-financial areas is not considered economically efficient or will achieve a better return than using central methods, so perhaps these brands will benefit from the financial situation, which seems to be in its best condition if you accept Bitcoin.

[Theones]

I think that these brands are trying to look "elegant" or "modern" using terms unknown to society, but they are very popular like the blockchain.
The use of blockchain in non-financial areas is not considered economically efficient or will achieve a better return than using central methods, so perhaps these brands will benefit from the financial situation, which seems to be in its best condition if you accept Bitcoin.

I agree - and they are also trying to show that they are ahead of the others by introducing blockchain technology.
But that is good if it is happening this will bring in more diversity to the modern business styles.

[jossiel]

I think I've seen already this somewhere like a sneakers brand and it's going to be really helpful for those brands to collab with each other to protect their brands and sale.

It's actually one of the usage of blockchain in having that intact record for the customers if they have the actual and legitimate brand and is not a copy that they've got in the market.

Sounds good and this is just one of the use that these companies to have with blockchain.

[romero121]

Maybe what they've done is the starting step for the next level of cryptocurrency acceptance. As stated in a previous quote, the usage of blockchain technology makes things better on financial system. What's been added to the brand makes the customer happy in terms of receiving the original product, when we get to use copy products thag doesn't have any difference.

Further if they add cryptocurrency payment option this will be better, because usage of blockchain makes it a platform that is ahead of others. Same need to be done on the payments side, which seems to be a better way to show that they're adoptive to the growing technology and financial system.

[Moneyprism]

it's very good they know the functionality of blockchain technology ... because basically blockchain technology can not only be applied to cryptocurrencies, but more than that, this technology can be applied to various sectors globally,, and even that includes the fashion sector,, for can maintain the originality of the goods in the sector and allow users to track how the goods arrived at their hands.. this is very good news because LV is a well-known brand globally and this will make the adoption of blockchain technology even more significant in the future

[wmaurik]

it's very good they know the functionality of blockchain technology ... because basically blockchain technology can not only be applied to cryptocurrencies, but more than that, this technology can be applied to various sectors globally,, and even that includes the fashion sector,, for can maintain the originality of the goods in the sector and allow users to track how the goods arrived at their hands.. this is very good news because LV is a well-known brand globally and this will make the adoption of blockchain technology even more significant in the future

I will also feel very happy if the adoption of blockchain technology is significantly more developed in the future because it will make some people who don't believe in blockchain technology will start to open their minds and eyes to learn about blockchain technology. Especially if it could be possible for the fashion sector with a brand that is already very well known in the world so that people who use fashion products will begin to realize that the products they use are related to blockchain technology.

[Zilon]

It is quite obvious that cryptocurrency is not only applicable to the use of digital currency for an exchange or store of value assets or for an investment but also the technology in blockchain has various applicable means it provides solutions into the economy, one of which they find secure to enlist all their brand products on the immutable distributed ledger while thousands of products and brands have join in this together.

Cryptocurrency is strictly for digital currencies using cryptography. You are actually referring to blockchain in this context which has cut across different sectors of the world even down to our political activities either in a permissioned  or permissionless  blockchain setting. The beautiful setup of Bitcoin has you pointed out is the immutable ledger and the choice of making this ledger public to enhance transparency. blockchain so far remains the future

[Husires]

Does anyone know a practical application that can be used to guarantee a physical end product or to purchase original copies by brand consumers? I used to think that the applications of the blockchain are limited only to ensuring the proof of ownership digitally and not physical things.

I hope we find a way to get original products because counterfeit goods have become the trend.

[coupable]

it's very good they know the functionality of blockchain technology ... because basically blockchain technology can not only be applied to cryptocurrencies, but more than that, this technology can be applied to various sectors globally,, and even that includes the fashion sector,, for can maintain the originality of the goods in the sector and allow users to track how the goods arrived at their hands.. this is very good news because LV is a well-known brand globally and this will make the adoption of blockchain technology even more significant in the future

I will also feel very happy if the adoption of blockchain technology is significantly more developed in the future because it will make some people who don't believe in blockchain technology will start to open their minds and eyes to learn about blockchain technology. Especially if it could be possible for the fashion sector with a brand that is already very well known in the world so that people who use fashion products will begin to realize that the products they use are related to blockchain technology.

From a personal point of view, I like very much to see people using Bitcoin in their professions and investments, and by thieves I mean small investments and not at the level of large companies.
The field of fashion is a promising field, and Bitcoin serves as an emerging market, just as Bitcoin serves it as an emerging global market that needs more specializations that support its spread among the largest possible number of users.

[dansus021]

Not just stop only for authenticity and payment, but of course to gain the hype the crypto itself when NFT Exploded in crypto space there is so many brand that making nft to drive more people to look at it ~> Marketing Purpose. 

[doomloop]

Maybe what they've done is the starting step for the next level of cryptocurrency acceptance. As stated in a previous quote, the usage of blockchain technology makes things better on financial system.

Though it's not totally the crypto that they adopt but it was its technology which is blockchain. Still both have a relation and those people will soon find out about cryptos and they will think that it will be a good idea to adopt it as well. I think the main feature of blockchain is transparency so yes it is perfect to use on the financial system which is why it's the first to be used on cryptocurrencies.

I think that these brands are trying to look "elegant" or "modern" using terms unknown to society, but they are very popular like the blockchain.
The use of blockchain in non-financial areas is not considered economically efficient or will achieve a better return than using central methods, so perhaps these brands will benefit from the financial situation, which seems to be in its best condition if you accept Bitcoin.

If they want to look elegant and modern, they can show it better on their designs. I think innovative is a better term to be used there if they are using a blockchain technology because it was still new and only a few industries or companies are currently applying it. Cryptos are not a secret anymore and those who are researching everything to cryptos will find out what blockchain is, so no it's that unknown to the society.

[hugeblack]

If they want to look elegant and modern, they can show it better on their designs. I think innovative is a better term to be used there if they are using a blockchain technology because it was still new and only a few industries or companies are currently applying it. Cryptos are not a secret anymore and those who are researching everything to cryptos will find out what blockchain is, so no it's that unknown to the society.

For example, a few months ago, NFT tokens were a hot title, so if a designer added them to his art collection, he might get a free promotion, so designers are looking for a trend and adding it to their art collection.
As for the blockchain, its use in aspects other than cryptocurrencies has not proven to be of great economic feasibility.

What I'm trying to say is that what's happening here is to follow the wave regardless of the nature of the technology.

[Theones]

If they want to look elegant and modern, they can show it better on their designs. I think innovative is a better term to be used there if they are using a blockchain technology because it was still new and only a few industries or companies are currently applying it. Cryptos are not a secret anymore and those who are researching everything to cryptos will find out what blockchain is, so no it's that unknown to the society.

For example, a few months ago, NFT tokens were a hot title, so if a designer added them to his art collection, he might get a free promotion, so designers are looking for a trend and adding it to their art collection.
As for the blockchain, its use in aspects other than cryptocurrencies has not proven to be of great economic feasibility.

What I'm trying to say is that what's happening here is to follow the wave regardless of the nature of the technology.

Most of the Artists are getting crazy for NFT and they are doing spaces on Twitter about NFTs, Artists, photographers especially are making it labeled on their profiles and selling the junk stuff in huge amount - I am not sure if they are really making the sales or they are faking that their art is sold. Its a strange game. Which I am unable to understand.

[Lanatsa]

If they want to look elegant and modern, they can show it better on their designs. I think innovative is a better term to be used there if they are using a blockchain technology because it was still new and only a few industries or companies are currently applying it. Cryptos are not a secret anymore and those who are researching everything to cryptos will find out what blockchain is, so no it's that unknown to the society.

For example, a few months ago, NFT tokens were a hot title, so if a designer added them to his art collection, he might get a free promotion, so designers are looking for a trend and adding it to their art collection.
As for the blockchain, its use in aspects other than cryptocurrencies has not proven to be of great economic feasibility.

What I'm trying to say is that what's happening here is to follow the wave regardless of the nature of the technology.

Most of the Artists are getting crazy for NFT and they are doing spaces on Twitter about NFTs, Artists, photographers especially are making it labeled on their profiles and selling the junk stuff in huge amount - I am not sure if they are really making the sales or they are faking that their art is sold. Its a strange game. Which I am unable to understand.

Hardest part is to verify everything that you do see specially in news or social media but you could eventually make out some tracks if those NFT's been placed in a legit or known nft marketplace and its been sold out.

Its really that anticipated about certain industries and different key areas where artist,celebs and in related will be definitely be focusing out on certain areas which they do know that they could able to utilize their
popularity and reputation or via simply be depending on their skills towards with this current trend.

No doubt about using up blockchain tech on some parts of it and as long it would turn out to be beneficial then it do really expands the probabilities.

[goaldigger]

Not just stop only for authenticity and payment, but of course to gain the hype the crypto itself when NFT Exploded in crypto space there is so many brand that making nft to drive more people to look at it ~> Marketing Purpose. 

There’s no other way for them aside from adopting the trends, if those companies will hesitate most probably, their competitor will take over the lead and that’s why they have to start adopting now. There’s a lot of companies who uses blockchain technology already, this help them provide a more transparent transactions within the organization. Some are creating their own NFT to attract more buyers, this is a good way of marketing though since its the trend.

[348Judah]

The platform leverages blockchain technology, which has the features of transparency and immutability to ensure that consumers of the brands are buying original copies.

So its being used to protect the data integrity of luxury item production and distribution.

To cut down on counterfeit copycats and imitation wares.

Exactly, now many are seing beyond the one sided application of bitcoin in realizing other great potentials and advantage blockchain technology could offer in cryptocurrency.

I think that these brands are trying to look "elegant" or "modern" using terms unknown to society, but they are very popular like the blockchain.
The use of blockchain in non-financial areas is not considered economically efficient or will achieve a better return than using central methods, so perhaps these brands will benefit from the financial situation, which seems to be in its best condition if you accept Bitcoin.

But i think this will make a difference, it takes someone to take the first step then others follows, with this i believe more are going to key into using this same system

[AmoreJaz]

Not just stop only for authenticity and payment, but of course to gain the hype the crypto itself when NFT Exploded in crypto space there is so many brand that making nft to drive more people to look at it ~> Marketing Purpose. 

There’s no other way for them aside from adopting the trends, if those companies will hesitate most probably, their competitor will take over the lead and that’s why they have to start adopting now. There’s a lot of companies who uses blockchain technology already, this help them provide a more transparent transactions within the organization. Some are creating their own NFT to attract more buyers, this is a good way of marketing though since its the trend.

a lot of popular brands are now looking into this NFT concept. which for me, is a lucrative industry in the making. remember, each brand has their own followers so there's no doubt some of them will avail their NFT collectibles even if most of them are not crypto users. so yeah, they will get their customers on this side of their business easy.